Virtusa Profit Misses Estimates

(RTTNews) - Virtusa Corp (VRTU), an information technology services company, on Monday reported first-quarter net earnings of $11.6 million or $0.39 per share compared with $10 million or $0.35 per share last year.

Analysts polled by Thomson Reuters estimated earnings of $0.40 per share for the quarter. Analysts' estimates typically exclude special items.

Excluding items, adjusted earnings for the quarter were $0.51 per share compared with $0.45 per share a year ago.

Revenues for the quarter were $126 million compared with $111 million in the prior year. Analysts estimated revenues of $126 million.

For the first quarter, the company expects net earnings of $0.33 to $0.35 per share, adjusted earnings of $0.48 to $0.50 per share and revenues of $132.5 million to $135.5 million. Analysts expect earnings of $0.36 per share on revenues of $133.4 million.

For the full year 2016, the company now expects net earnings of $1.51 to $1.67 per share, adjusted earnings of $2.15 to $2.31 per share and revenues of $569 million to $587 millionn. Analysts expect earnings of $1.73 per share on revenues of $574.7 million.